Sears Holdings Corp. announced the Flint Township store is among 72 Sears and Kmart stores that will close soon. Sears initially said 72 stores were slated to close, but later pulled some of the stores from the closing list to evaluate them further.
Sales at established stores, a key gauge of a retailer's health, tumbled almost 12 percent, down 9.5 percent at Kmart stores and 13.4 percent at Sears.
Such a deal would infuse the debt-laden company, which also runs Kmart discount stores, with at least $500 million cash, helping it remain in business.
The auto center at the Metrocenter Sears was scheduled to shut down in late June.More news: Trump says Mueller will be ‘meddling’ with 2018 vote
Chattanooga, Tenn. -based CBL Properties, which owns the mall, said earlier Thursday that it did not expect the mall store to be affected.
The company closed more than 400 stores a year ago and is in the process of closing its store at the former Summit Park Mall, which began liquidation sales earlier this month.
Furthermore, Sears used to be a goliath in appliance sales, but other large retailers, such as Home Depot and Lowe's, compete strongly in that area now, Saunders said.
Sears said comparable-store sales at both Kmart and Sears grew in several categories, including apparel, footwear and jewelry.More news: Militants attack Afghan ministry with bomb, grenades and gunfire
Sears leadership said in a statement the stores closing were not profitable. And earlier this year the company closed its last Kmart in Wichita.
Shares are down more than three percent before the opening bell.
Sears Holdings announced in April and May the Sears at the Clearwater Westfield Countryside Mall and the Kmart stores on USA 19 and in Brandon would shut down.
Terre Haute's Sears store has made the cut. Last year, it sold its Craftsman tools brand to Stanley Black & Decker Inc.More news: Zinedine Zidane Resigns As Real Madrid Coach After Unprecedented Success